Why Aurinia Pharmaceuticals Stock Is Crashing Today
Shares of the autoimmune disease specialist Aurinia Pharmaceuticals (NASDAQ: AUPH) are poised for a tough session today. Ahead of the opening bell, the drugmaker's share price cratered by more than 20%, on heavy volume, in premarket trading Monday morning.
Aurinia's shares plunged in early morning action today in response to the release of its 2021 fourth-quarter and full-year earnings report. Although net revenue from the company's oral lupus nephritis medication, Lupkynis, jumped by 60% during the three-month period relative the third quarter of 2021, Aurinia's 2022 annual revenue guidance of between $115 million and $135 million fell well short of expectations. Wall Street, for its part, was expecting the midway point of the company's 2022 revenue forecast to come in at around $178 million.
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Source Fool.com
